East Europe

No bids for Ukrainian hryvnia bonds at auction for second time in 2012

Investors snubbed sales of local Ukrainian bonds for a second time this year, offering no bids on Thursday the finance ministry said when offering one, three, five and seven-year Ukrainian hryvnia bonds for sale. Investors similarly ignored a bond auction on May 17, though dollar-denominated one-, two- and three-year bonds for $535 million found buyers at a May 29 au
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Russia’s growth forecast for 2012 trimmed by World Bank official

Growth in Russia and Eastern Europe will probably slow this year and the region is at risk from tighter credit conditions at a time when lending by the IMF may be postponed to countries such as Ukraine, a World Bank official said. The bank is forecas

Poland will not take on the euro any time soon according to Finance Minister

Poland’s adoption of the euro currency is out of the question until the euro zone improves its structure and gives its central bank a bigger role to prevent crises in ...

Latvia’s failed Parex bank to be re-branded under new name Reverta

Parex bank’s British Chief Executive Christopher Gwilliam last week hailed the re-branding of the failed Latvian bank under new name Reverta, an initiative estimated to cost 15,000 lats. The EU and ...

New 2 lita coins to be issued by Bank of Lithuania in 2012 and 2013

New two litas denomination coins of different design, dedicated to Lithuanian resorts and resort sites, will be issued in 2012 and in 2013, the Bank of Lithuania said in a ...

Hotels in Ukraine jack up hotel rates by up to 1335 percent ahead of Euro 2012

While plenty of tickets for Euro 2012 are still available at affordable rates, hotels in Ukraine are jacking up their rates to as high as 1335 percent as the June ...

Latvia looking for 1 billion euros compensation from the EU

To agree on imposing economic sanctions against Belarus, Latvia may demand from the EU a minimal compensation of one billion euros. The chairman of the Society on Promoting Latvian-Belarusian Economic Ties ...

Lithuania’s performance in the export market remains in the comfort zone

Lithuania’s performance in the export market remained in the comfort zone in the first month of the year, data from Statistics Lithuania showed last week. Overall, exports of goods of ...

Ukrainian hryvnia foreign exchange rate to weaken further in 2012

The Ukrainian hryvnia foreign exchange rate will likely weaken further in 2012, according to the chief financial officer of Ferrexpo PLC, citing that he expects inflation in the Ukraine to ...

Russian ruble exchange rate rises against US dollar as oil prices climb

The Russian ruble’s exchange rate erased yesterday’s declines against the US dollar and bonds gained as oil prices climbed on bets global economic growth is on track. The Russian ruble extended ...

Poland faces risk of falling zloty if Greece swap fails to stop default concerns

Poland faces the risk of the zloty dropping as the country remains vulnerable to contagion if Greece’s debt swap fails to allay investors’ default concern, said Maciej Reluga, an adviser ...

Russian ruble exchange rate drops as Central Bank maybe buying other currencies

The Russian ruble’s foreign exchange rate fell the most in two weeks as Russia’s monthly tax period ended and amid speculation the central bank is buying other currencies to stem ...

Polish zloty foreign exchange rate falls against euro after manufacturing slips up

The Polish zloty’s foreign exchange rate fell against the euro today, snapping a five day winning streak, after a report showed Polish manufacturing slipped up to stagnation from expansion in ...

Latvia’s PM says European Union’s fiscal treaty will prevent a new debt crisis

The ratification of the European Union’s fiscal discipline treaty is highly important for Latvia, since it will prevent new debt crises, Latvia’s Prime Minister Valdis Dombrovskis emphasised on February 27. Dombrovskis ...

European aid to Lithuania suspended due to unauthorised violations

As the European Commission (EC) stated that Lithuania uses the European Fund payments with some unauthorised violations, the payments from the European Regional Development and Cohesion Funds to the country ...

Ukraine to wait until market conditions are right for sale of US dollar bonds

Ukraine can wait until market conditions are right for a planned sale of dollar denominated bonds as it has sufficient funds to cover debt payments, First Deputy Prime Minister Valery ...

Russian ruble foreign exchange rate higher as Urals crude demand rises

The Russian ruble’s foreign exchange rate strengthened against the US dollar and bond yields fell to a six month low as Iranian oil disruptions spurred demand for Urals crude, Russia’s ...

Poland motorway questions remain ahead of Euro 2012 championship

Poland, hoping to avoid the embarrassment of not opening several major roads before it co hosts Euro 2012, wants to modify laws to allow the use of unfinished motorways. Poland is ...

Bank of Ukraine sells currency on interbank market to support the Ukrainian hryvnia

The National Bank of Ukraine in January 2012 sold $893.6 million more than it bought on the interbank forex market to support the Ukrainian hryvnia, according to a posting on ...

Lithuanian lita celebrates 90 year anniversary of the Baltic state currency

90 years ago, on 2nd October 1922, the national Lithuanian lita was issued into circulation for the first time in the Baltic state, whereas on 1 October 1992 the national ...

Russian ruble foreign exchange rate lower as Greece bailout delays hit export demand

The Russian ruble’s foreign exchange rate fell lower against the US dollar for a third day on Thursday as delays in delivering a second bailout to Greece threatened demand for ...

Polish zloty advances to fair value against the euro Poland’s PM adviser says

The Polish zloty’s exchange rate is advancing toward its fair value after last year’s slump against the euro, according to Poland’s Prime Minister Donald Tusk’s chief economic adviser said. “There’s nothing ...

Latvia facing big challenge with plans to replace Latvian lat with the euro currency

Latvia faces big economic challenges in its planned adoption of the euro currency which is hope will replace the Latvian lat, not the least of which is the euro zone ...

Polish zloty foreign exchange rate gains most in 3 months against euro

The Polish zloty’s foreign exchange rate gained to its strongest in more than 3 months against the euro and Polish government bonds extended last week’s rally as optimism Greece will ...

Embassy in Vilnius organises study on the prospects of cooperation between Lithuania and Latvia

On 20th January the Ministry of Foreign Affairs of Lithuania and Latvian Embassy in Vilnius organise the presentation of a study on the prospects of cooperation between Lithuania and Latvia. ...

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